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Home News How Much Do We Need to Save For a Baby?

How Much Do We Need to Save For a Baby?

Posted on | Categories: Budgeting, Savings

How Much Do We Need to Save For a Baby?

You won’t be surprised to hear that the baby industry is thriving and has been for some time. The more knowledge that is gained about baby safety, development and the overall rising costs of education has left some hesitant to start a family. However, with a little planning, you can determine the most important things you want to provide for your child and go from there! We’ve compiled a list of main essentials for you to consider but realize this can be different for every family.

Pregnancy, Delivery and Pediatrics

Even before baby’s debut, the costs can rack up rather quickly. You are going to want to be sure to check with your insurance company to see what you would be paying out of pocket for prenatal visits, delivery and follow up visits. You’ll also want to see how the coverage changes in the unlikely scenario you have a multiple pregnancy, like twins or more.

Average Prenatal Costs: $2,000

This includes routine doctor’s appointments and even prenatal vitamins. Many insurance companies cover the costs for a majority of this. However, keep in mind that every pregnancy is different, and you may sometimes be referred to a maternal health specialist.

Average Cost of Delivery and Newborn Care: $4,000-$50,000

This amount varies so much due to the type of delivery you have and if there are any complications.

Average Cost of Pediatric Care in the First Year: $688

This includes well-baby visits and immunizations. It should also be noted that it does not include any specialized doctors should your child need them.

Baby Supplies

The bad news is that baby supplies cost a lot, but the good news is it doesn’t have to break the bank. Many items that parents think are a “need” are really more of a want and not critical to the well-being of your little nugget.

Baby Gear: $400-$3,000

There are certain items that you should not get secondhand, like a car seat. However, you can keep your baby gear costs down by purchasing many items secondhand. When it comes to toys, children are often entertained by items as simple as measuring cups! Get creative with your purchases.

Nursery: $400-$2,000

Even if you don’t plan on having a completely redecorated nursery, there are some basic items you will need to get. This includes a crib, mattress, bedding and potentially a changing table.

Diapers: $1,000 (1 year)

There’s no getting around it, you are going to need diapers and a lot of them. Even if you choose to go the cloth diaper route, the cost of those supplies can easily cost $300-$500.


Clothes is one area where you can seek out secondhand options. You may want to have a few outfits for special occasions that you love, but simple white onesies do the trick!

Maternity Leave & Child Care

Unfortunately, not all companies offer paid leave to employees. You will want to figure out what your company offers and how long you would like to take to stay with the baby. Sixty percent of Americans qualify for the Family Medical Leave Act, which grants you up to 12 weeks of leave. You will want to factor in any salary you are missing out on as a cost to you.

Child Care: $5,000-$24,000 per year

If you plan on having full-time child care, you will also want to start shopping around for places in your area. Many times, the best places have long waiting lists. You are going to want to make a budget to see what kind of care you can afford or if you have a family member who would be willing to help out.

Take your time to evaluate each of these costs. It’s important to consider all of these expenses so you don’t have to stress before baby arrives and after! Save for baby and place that savings in a secure area – like a savings account from us!